tv The Ed Show MSNBC January 18, 2012 11:00pm-12:00am EST
i believe this is your debut. >> john nichols has the latest they keep getting better. >> we will explain. >> good to have you with us tonight. mr. romney is getting attacked by his enemies and his friends aren't helping. newt gingrich says he will release his own tax returns tomorrow and says that romney should do the same. >> we can confirm. me be clear. the 21st century has an optional 15 kris flat rate for every american. michael. >> my goal is not to raise the mid rummy's taxes but to let him
pay his rate. i will not criticize ronny but say that shouldn't we all have the option of the flat tax at the same time. >> he stand to gain a lot from his own tax policies. citizens for tax justice brought down the tax proposals. under the president's plan, romney would be taxed at 24%. under his own plan he would be taxed at less than 15%. his new friend, chris christy, tried to run interference for him this morning. he may have done more damage. >> the way i have conducted myself all along is i have released all of my tax returns and did it during the campaign. i released them every year after i filed them, right after i filed them so they could see everything. that is what i would tell governor romney to do. the fact of the matter is that is what i would advise him to
do. >> he has said that he probably release his tax returns in april. he wants him to lease them now and going back a number of years. robert pointed out why he is being coy about his taxes. but a loophole in the tax laws allows private equity managers like romney to treat their compensation as capital gain. it's legal, but it's a scam. mr. romney is already hiding the amount he stands to gain from his own technologies and cutting the tax loophole he exploits to get a low rate right now. here is some interesting stuff as well about romney's tax returns that would reveal this. bain capital has millions of dollars in foreign tax havens, bermuda, hong kong and ireland. this is not illegal, but offshore holdings brings in
massive profits, which is the source of his income. he calls himself an expert in creating jobs, but he is an expert in gaming the system. >> the effective rate is probably closer to the 50% rate because the last ten years my income comes overwhelmingly from investments made in the past rather than ordinary income. i got a little bit of income from my book, but i gave that all away. and then i get speakers' fees from time to time, but not very much. >> this story will not go away. there is a new chapter every day. his favorability rating is starting to take a dive too. he is at 53% and 47 percent rate in a new pupil.
they look at rodney favorably. romney has just got ice in his veins. he cannot relate to the middle class. the money running makes in speaking fees is really a lot of changing number. what would you do with $375,000? down in south carolina, it is just over $42,000. 375 is really not that much. net romney does not relate to the working folk in this country because he hasn't had a job in five years. even chris christyspee-mack i don't think it comes as any great shock because he hasn't been having a job where he has been getting income over the last number of years. he has been getting money for investments. >> met romney doesn't need to work for a living. he makes millions from untasks and pays less in taxes than people that earn a fraction of what he is worth.
he can pass policies to make himself even richer. is he your guy tonight? i want to know you think. tonight's question, should mitt romney have to explain a capital's offshore accounts? text "a" for yes and "b" for no. go to our blog at night unless nbc.com. joining me tonight is david k. johnson and author of the route book free lunch and john results, chairman of vote vets.org. great to have you with us. how advantageous are these offshore holdings by bain for matt ronny? >> they are enormously better than 15%. you and i get my eighth paycheck which the government takes the taxes out before we get our money. if you are making a bit over
$60,000, you pay 50% to the federal government. romney said up these deals where he was allowed to get compensation, not investments, compensation for managing other people's investments and be paired with what's called carried interest. he doesn't pay any taxes on that until he cashes out. he will pay taxes on dividends or other things that flow out of it. imagine that if you could have wealth in your bank account or offshore account and all you had to do was pay this low, 15 percent rate on the dividends that flows from that and your love is untext. we don't know how much is on the untaxed income and we will know until you get his tax returns back to 1984. >> you talk about that carried interest. rupert murdoch put this out on twitter. romney's tax uses a long term legal loophole carried interest makes all fund managers rich.
it's time both parties stop selling out wall street. >> what do you think about that? >> if i were in wall street executive, i would be worried about romney running because once ordinary americans sitting around the kitchen table understand this, and that is what my column will be about tomorrow. once they understand is and how this game is rigged far worse than they have ever been told, there will be public pressure to end this practice of paying now, pay your taxes years later. >> john, your group has a petition to get ronny to release his tax returns. why is this an important issue for a vote vets? >> he is running for commander in chief. you can go into military times to see what the military pay scale says. when we are in iraq or afghanistan, we have a nontaxable income for those months deployed. when we return, we are taxed at a higher rate than the man that
wants to be president. when we are deployed, there are field grade officers that do play taxes because we are only allowed to get tax-free up to the highest in listed means. there is a leadership responsibility here. the troupes need to know. the second issue is that the public is appalled at the fact that people that can spend 20 years running for our country could pay higher taxes. we are the real 1%, then a man who is making 100 of thousands of dollars annually. >> is there anything in his tax return that would disqualify him for the presidency? everything he is doing right now is legal. it may not seem fair to the average joe or to the combat soldier or to retired veterans, but d.c. anything that could disqualify him? >> i can't see these things. this perception is reality.
we just released a poll yesterday where we looked at veterans messages. it was some veterans talking to veterans, but in places like ohio and pennsylvania, montana, you start looking at republican white men and independent man. these people are appalled to find out that the wealthiest 1% is in a lower tax bracket this on the capital gains structure. politically it's an achilles heal. if it wasn't, he would have released them already. >> is there anything he can do between now and the day he was going to release these returns in the middle of april that might soften the blow a little bit? or its just done and that's the way it is. >> i think he has a quandary here. he shouldn't delay until april. you get the news out and try to get it over with and move on, but as soon as he releases those returns, people will recognize that he has been running for
president for five years. he has had five years two would ever return makes public make as good as possible. the returns that matter are from 1984 through 2000. those will tell us about the money that he made. that is not investment income. its compensation just like your and my paycheck. under the special role it hasn't been taxed or isn't taxed until he sells that compensation that buys his shares. >> both parties are guilty of not doing anything about it. the wealthy shipped on the senate and house and give to both parties. there have not been any pushes to change these loopholes. is that fair enough? >> yes, but if people called the capitol switchboard and asked for their congressperson by name and tell them to stop it, we may see movement. there is only 1 political party in washington, the party of the greenback. >> we have had such a big
discussion about income inequality. the top 2% has gone up almost 300%, while the blue liners have only seen a modest increase in wages over the last 30 years. i would imagine for soldiers, that's the same way for the military. the military is down there at the blue line. i just don't think this is a really good moral issue. >> the soldiers are, we call them the 1% because we are always gone, but people who serve regular americans in make up to 80 or $90,000 in taxable income. the longer you sir, you're talking about middle class people. the veterans are the middle class. that is why we have 4,000 veterans and military families signing this petition. we have pending budget cuts. if president ronny
going to 401k so he can make it even more because he is relying on offshore accounts? >> fair question. >> these are not given to us but have been earned by retirees at so he can keep himself in municipal bond funds or on a carried interest program where he is actually playing with other people's money that he gains capital gains. >> great point. david kahn always a pleasure. john, great to have you on the program. this story just won't go away. remember tonight to answer the question at the bottom of the screen and share your thoughts on twitter. we want to know what you think. coming up, is newt gingrich, is this guy a surge on the horizon down in south carolina? the latest polling, and it looks pretty good. kevin jones will join us, and bill press will weigh in as well. the democrats party pretty hard us night, but the real fun begins. we have the latest on the record
twitter is alive tonight on the ed show. if obama has to show his birth certificate, why doesn't romney have to show his tax returns. is not backing bridge rebounding? should mitt romney be worried? bill press will join me next. psycho talk coming up. find out what this superstitious cheese head says is to blame for the packers's loss to the giants. this is brutal. steven cole bear won't be on the ballot this saturday in south carolina, but here comes herman cain. his new plan to win the united states of south carolina later in the show. share your thoughts on twitter it using #and show. in our environment.
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i fully expect the romney campaign to be an ending league tourney and dishonest for the next four days because they are desperate. they are discovering they cannot buy this. >> that was newt gingrich earlier today hitting front runner mitt romney pretty good. ronny looks like he is in for a very, very rough few days. gingrich is picking up with the polls. romney with a ten-point lead, but gingrich is gaining ground. the romney campaign has taken notice. the held a conference call explain why gingrich is
unreliable. as "the washington post" reports, romney has and organize such a call with gingrich as the target since the former speaker led the field back in december. last night, q. rich's southern strategy got a boost from way up north. >> if i had to void in new south carolina in order to keep this thing going, i would vote for knew it, and i would want this continue more debates, because we know the mistake made in our country four years ago was having a candidate that was not vetted. >> yeah, we didn't vet president ball all at all this connection was not referring to herself right there. they said the half term governor will be a key player in his white house. >> i would ask her to consider taking a major role in the next administration if i am president, but nothing has been discussed of any kind, and it would not be appropriate at this time. >> major role by sarah palin.
co-founder of south carolina forward progress. as well as bill press with us tonight, author of the upcoming book, i can't wait to read it, the obama hate machine. what is that all about? i am looking forward to it. >> got it. >> speaking of going after candidates, abc news has an interview with newt gingrich's ex-wife, marianne. we do not know what is in this interview, but we do know that she once told esquire magazine that she didn't believe that he was fit to be president of united states. what do you think? could this be something that derails his momentum in south carolina if abc runs this story? >> this reminds me of way back in the clinton days when the drudgery reported -- nbc had a
story about a girl named monica wednesday that the president might have been having an affair with. there's a big debate whether or not to run it during now that debate is going on inside abc. if this comes out, this could hurt the gingrich candidacy. here in south carolina today, people still don't like romney, even though he won the first two primaries. they are looking for somebody else. newt knows how to throw them red meat out there. they want to give him one last chance. he may not win, but he will go down fighting. he has given ronny the run of his life. he is moving around. >> for a guy who is not the front runner, newt gingrich is acting like it. what do you make of his move in south carolina, cutting this lead by matt ronny to ten points. >> good evening, at ed.
i think the search is for real. he needed money and he needed debates, and he got both of them. he got the $5 million contribution and two debate in one week. if there is one candidate that benefits from that, it's not correct. but newt gingrich. he had a great debate full of hateful and insulting rhetoric, which we know south carolina republicans absolutely love. romney had a terrible debate. >> gingrich believes that his momentum is coming out of this debate. the exchange between juan williams came up today. let's go to that. >> i would like to thank you, mr. speaker, for putting mr. juan williams in his place the other night. >> bill: what about that, tyler? did he not get out of the park? i don't mean to be disrespectful, but holy smokes.
>> no offense taken. he had a tremendous debate. he threw out all the red meat that he needed to connect to those eccentric republican voters in south carolina. i think the surge has a lot to do with the debate but also to do with mitt romney imploding. he is not able to fill rooms. his events here have terrible debates. he adds here in south carolina and they are starting to stick. people looking for that alternative, i think they found it in newt gingrich. >> you could just listen to that crowd. he has a base down there. >> oh, yeah. no doubt about it. his specialty throughout this primary season and all these debates has been attacking the moderator, attacking the members of the media. he has done it over and over again. wait until tomorrow night. the word around town in charleston is that cnn knows this is the last band. this is the last chance for most
of these candidates. they are just going to let him go at each other. that will be fun to watch, and there is nobody better at slash and burn the new been bridge. >> he called for perry and santorum to drop out. >> i think it's an enormous amount of humor for someone who lost their first two races and thinks and much of themselves that thinks because a couple of polls have him ahead of me that everybody should step aside and let him, who hasn't defeated me in two of the election so far, to let him have a wide berth. >> there is other dropout as well. erik erikson, they want rick perry to drop out and consolidate to the anti-romney vote. here is. earlier. >> the idea that we are going to do anything else other than try to impact this election, that is why we got in it. we did it because it was our
purpose to serve this country. that is what we have been called for. >> what about this? anybody going to drop out and coalesce behind one conservative? >> probably not, because they all have their super packs and the money. for newt gingrich, who has been the same torn yet, to suggest that he ought to drop out. remember madeleine albright called it cojones. he is really shoving them with that. absolutely. >> they may announce tomorrow a different ending to the iowa caucus. tyler jones, it does not matter, does it, whether met ronny won by eight votes or lose by 12 on a recount. what does that do to south carolina, if anything? >> nothing. i don't think that matters. a new poll showed mr. ronny of ten on nate kindt rich and rick perry at 6%.
he would still be four points down on that romney. he has to go after rick santorum, especially against social conservatives. he could win. >> cadot jones, bill press, always a pleasure. . enjoy that warm weather. up next, a very depressed green bay packers fans has a unique theory about why her team lost to the giants. i have a sparkling surprise for you inside the top. and today the president took a stand against republican pressure to build the unfriendly keystone xl pipeline. steve israel will join me later and talk about how affects the 2012 elections.
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fever, muscle or join pain, headache, nausea, vomiting, and diarrhea. if you have questions about your current treatment, ask your doctor about reclast. and in psycho talk tonight. we just got back from wisconsin. there were look a lot of sad faces after green bay got booted out of the playoffs by the new york giants. we have all heard all kinds of rumors about why the packers didn't get it done, but a fan named casey had the best theory of all. >> the packers because they tell me did put the sparkles on my nails. >> i'm sorry. don't cry. >> bill: this is your fault. you tell me to put the sparkles. i told you not to do the sparkles, and you told me to do
it. >> it's pretty. >> i don't care about pretty. i want them to win the super bowl, megan. >> oh, my god. >> i wore my jersey, and i said, let me wear my aaron rogers jersey, and you said no. >> we don't know how serious she was about the sparkle nail polish, but the packers all-pro linebacker is a dandy. he really let her have it on twitter. he posted the video and tweeted, a you, megan, and your sparkles. just relax. they were not the reason why you lost. if they wear, she wasn't the only one that put them on her nails. i kind of like them. >> when you had a recall about some of the broken promises. >> scott walker is raising cash
all over the place to save his job. will they field a winner? john nichols has all the answers. republicans are twisting themselves into knots over the president's keystone decision. steve is row responds. steven cole there is reheating some cold pizza to explain the ridiculous citizens united decision. >> anybody who shares my values can show it by voting for herman cain. like many chefs today, i feel the best approach to food is to keep it whole for better nutrition. and that's what they do with great grains cereal. see the seam on the wheat grain? same as on the flake. because great grains steams and bakes the actual whole grain. now check out the other guy's flake. hello, no seam. because it's more processed. now, which do you suppose has better nutrition for you? mmm. great grains. the whole whole grain cereal.
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when i woke up this morning in madison, wisconsin, this is the headline that i woke up to. i saw the wisconsin state journal. walker is running scared big time after the record-setting petition drive. he is on the ropes. he runs to the safe haven of talk radio and the noise machine. >> scott walker, i think arguably one -- if not the best -- governors of the country. >> that is what we have that thanks to the big money coming in from washington and the public employee unions. we will be able to fight, and hopefully people will join us. >> always nice to see you, sir. >> i hope given the chance this summer with the help of a lot of grassroots organizations. >> that is why they want to recall. you are doing what you said you were going to do. what you said you were going to do is working. that's the last thing the left can tolerate.
>> really? i am sure rush got out of bed yesterday and said, the first thing we have to do is cover that wisconsin story. they got their machine in place. walker needs all the help he can get. the recall effort really is unpresident said. they signed a petition to recall walker. that has only happened two other times back in 1921. north dakota governor, lynn frazier, was recalled. not too long ago in 2004, only 23.4% recall and gray davis. remember those days. walker won the 2010 election. he won in 2010. this gubernatorial chair by just 124,638 votes. keep in mind that many households voted for the sky before they realized that he was out to destroy collective
bargaining. i do not think they will make the same mistake again. the working men and women of wisconsin only needed to gather -- they collected over one million. that is 185% of the amount they needed. in 2010, across the country i guess you could call it a health care hangover. many just didn't show up or were mad at the democrats. now look what happened. the democrats in wisconsin got a major chance to correct all of that and turn this around. they have done the due diligence, not the have to go the next mouth. let's turn to john nichols, correspondent of the nation magazine and now on twitter. @nichols uprising. how innovative. i love that. was walker shocked by these results. also, your take on this unbelievable media tour that he is on.
every white wing heavyweight is helping this guy out with visibility, raising money. this is a national campaign. was he blindsided by the million signatures? >> he was absolutely blindsided. governor walker and his lieutenant governor, who also faces a recall, were both on right wing media early yesterday saying that the democrats, that the progressive forces that go well beyond the democratic party, had set out to do this recall and falling short of their goal. lieutenant governor crayfish said they would get 720,000. she said that was a defeat because they did not get the million. their internal communication was telling them this would not get anywhere near one million. when that hit, they were unquestionably shocked. when you listen to the governor's interviews, it became more evident when he was up against. there was a lack of energy. you've actually mumbling in some
of the interviews. this right wing spin machine, they did everything they could to prop him up. they wanted to help him raise huge amounts of money. you pointed out in that clip. every time, on every one of the shows, he mentioned his campaign web site. that is a desperate candidate. >> the right wing views this as an alamo of sorts, that they have to win this. >> oh, yeah. >> to continue to go after the democratic base, collective bargaining, blame middle class for the economy and balance the budgets on the back of wage earners. the money that will be coming, how much super pac money will be out there helping walker? >> today we heard and upping of the estimate. it has long been suggested that this would be a $70 million campaign, not all for governor walker, but with walker have been the overwhelming majority
of that. now there is talk that this could be a $100 million campaign. perhaps the most expensive gubernatorial race in a state of this size ever in the history of the country. here's what significance about that as well. governor walker has been raising huge portions of this money from outside the state of wisconsin. that is an effort to get money to support this initiative. governor walker himself has said why. he has said that if he loses, that the anti-labor push of the right and of these republican governors, it will lose steam and fall apart as commend john nichols, you know we will follow the story. we appreciate your time. president obama set up to republican pressure to approve the pipeline, and republicans are heading back rashard. steve is row will tell us how
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president obama through the republicans some red meat today by refusing to authorize a controversial keystone xl pipeline. they forced him to make a quick decision on the proposed oil pipeline running from canada to texas as a condition of extending the payroll tax cuts. the president cited the gop's rush and arbitrary deadline as the main reason for his denial. the republican backlash was very predictable. >> president obama is destroying tens of thousands of american
jobs and shipping american energy security to the chinese and. >> by deciding to block the development of the keystone pipeline, he has essentially decided to block the creation of 20,000 new jobs. >> all right. here we go. 20,000 new jobs is a bogus talking point. transcanada estimates the project will only create around 6,000 temporary jobs. meanwhile, it two of president obama's clean energy initiatives are projected to create 68,000 permanent jobs, but republicans label those programs job killers. how much more evidence do americans need to see that the republican party cares more about defeating this president than they do about creating jobs. joining me now is the chairman of the d triple c. good to have you with us. >> this is a very detailed response. it has to be a detailed response because there is a lot of
environmental issues that play into this decision. it's hard to fit this in a 15-second sound bite about killing jobs. what's your response? >> this is the latest twist and turn in the congress of chaos. this has to do with these house republicans doing everything they can, using every excuse they can to block the middle class tax cut. when in the history the republicans imposed a condition. to help working families, they won't get it unless they get a pipeline. you cannot approve a pipeline unless you can prove that it is safe. >> is there a chance the president might go along with this pipeline but will not shoot from the hip? >> the bp pipeline in the gulf of mexico was spewing oil into the gulf of mexico. now they want to disregard all safety standards. they want this running through the united states. it has nothing to do with the pipeline. it is a joke. they want to improve a
middle-class tax cut. they are using this as an excuse, and the american people are tired of them. >> there are some concerns about where this oil is coming from in canada and how toxic it could be. this would be running over the midwest, right over a major offer that deals with drinking water, irrigation for crops. i mean, this is a big deal. >> the bp still wasn't enough. now they want it in nebraska. that is why you have a permitting process. you have a permit in process. these people want to disregard that process and use this as an excuse not to do this tax cut. >> today you unveil the plan to take back the house for democrats. how does the president's keystone development affect this? >> we unveiled a plan -- we need 25 seats to take back the house. we have 76 seats in play.
these are problems solvers. they are not going to find excuses to pass tax cuts. these people are used to reflections of the middle class, solving problems. the first african-american woman, piece police chief. these are people who solve problems. they are not interested in continuing this a joke that these republicans inflict on america. >> the obama campaign released their first ad today. here it is. it is a soft sell, but it talks about the environmental record and energy. >> secretive oil billionaire's attacking president obama with ads fact checkers say are not tailored to the facts. independent watchdogs call this record on affix unprecedented. the clean energy industry, 2.7 million got jobs. for the first time in 13 years, our dependence on foreign oil is below 50%. president obama it toughened at 6 rules and strengthen the economy.
>> i am barack obama, and i approve this message. >> every election is about who you for. in this message, they are about the middle class. this house republican majority has consistently chosen millionaires over medicare, old companies over middle-class tax cuts, and this message is a message that we will articulate throughout this campaign. >> are the republicans line about the job numbers? >> they continue to spend. this is the congress of chronic chaos. we will not let them get away with this. >> good to have you with us. thank you so much. steven colbert can't get on the south carolina ballot, so he is calling on herman cain for some help. i will explain next.
republicans that watch the show. 1% said no. stephen will bear's new strategy in south carolina. that is coming up next. stay with us. and it's very physically demanding. if i'm sore i'm not at my best. advil is my go-to. it's my number one pain reliever. [ male announcer ] make the switch. take action. take advil.
[ female announcer ] nature valley granola bars, rich dark chocolate, toasted oats. perfect combinations of nature's delicious ingredients, from nature valley. ♪ nature valley granola bars, nature at its most delicious. the big finish tonight, steven colbert with a bit of a problem. his name does not appear on the primary ballot in south carolina. how can he continue to run for president of the united states of south carolina? with the help of her maintain.
he is still on the ballot in south carolina, and colbert is not asking his supporters to vote for the pizza man. >> because we are so similar, i think that if this saturday herman cain were to get a significant number of votes, that would be a sign that voters are hungry. hungary. hungry for a season colbert campaign. anybody who shares my values can show it by voting for herman cain. >> as for herman cain, he thinks it's a great idea. he will take a segment for the colbert report in south carolina on friday. tweeting this caveat. to be perfectly clear, i will not be assuming steven colbert to the identity. we a very different when it comes to the color of our hair. colbert's super pak now run by john stuart releasing this at exploiting the situation to voters. >> there is one name on the
ballot that stands for a true american identity, herman cain. americans for a better tomorrow tomorrow believes a vote for herman cain is a vote for america. on january 21st, devoe and herman cain. let's get some insight from the correspond with the nation magazine. the polls show that obama is at 41%. romney at 38%. colbert at 13%. well this alter the outcome on saturday in south carolina? >> he could take a bite out of it. this was actually the plot of an eddie murphy movie, the distinguished gentlemen were
they say you have the right name id and say you are the other candidate, you can win as him. herman cain says he is not very serious about this, since he is playing along. >> sure. you never know. steven colbert could finish ahead of rick perry. >> that is not unheard of. maybe you should throw your hat in the ring. >> really. here is what mitt romney had to say about coordinating with the super pak last month. >> i'm not allowed to communicate with the super pak in any way, shape, or form. >> if we coordinated in any way whatsoever, we go to the big house. >> colbert and stuart prove how easy it is to not coronate last night. >> i can't tell you, but i can tell everyone through television. if you happen to be watching, well, i can't prevent that, john. >> oh, i have an idea. hold on a second.
>> i am calling on the super pak. i cannot coordinate with them. i cannot communicate directly, but i can speak out as a citizen talking to you, and i am calling on them not to run vicious character assassination adds that in tune and borderline slander any candidate if in any way those ads could be traced back to me. >> i mean, we are at the point now where two comedians are doing more to help the process than the politicians are to help americans understand what is going on out here. >> although, in fairness to the republican nominees, one of the most beautiful things out of this campaign and a campaign that has not been very beautiful has been seeing them complaining about super packs and themselves highlighting the role of money and highlights. political satire has a long history in american culture and politics. steven colbert has done an amazing job pointed out the
absurdity of the situation and making it very real. >> will this change anything? >> number one, it will scramble things in south carolina a touch. if he picks up three or four points, we will hear complaints about who that took votes from. most folks don't care about process that much. people don't worry about meeting the bias until they feel it hits something they care about. the process of supertax is arcane, but the display is huge. >> could we see the republican nominee broker a deal to cool it? >> i would love to see it. there with a call for that at "the new york times" saying what about a mutual nonaggression pact. >> what do you think? >> that is a possibility. you have americans elect, which is likely to be on the ballot. someone with a big personality like steven colbert could get the americans elect nomination. >> thank you so